#btc Update
Bitcoin Update: Bitcoin Update: As you know, Bitcoin spiked yesterday, hitting $65,000. Currently, the price is consolidating within the $62,000 to $64,000 range. This range suggests a bullish scenario. If we analyze the price action and structure carefully, Bitcoin now needs a correction. Ideally, this correction should follow a legitimate structure, where we might see a price action that first corrects down to around $62,000 to $62,500. This correction should involve a structured move rather than flat volume, followed by another upward movement.
Regarding Bitcoin and altcoins: Bitcoinâs last move was bullish, but it wasnât the type of move that triggers a reversal for altcoins. If Bitcoin experiences a panic drop, altcoins are likely to face a significant correction as well. Itâs important not to shift your mindset to a bullish wave just yet, as this is only temporary. Once Bitcoin drops, altcoins will likely fall again, and both will require a correction to the downside in the short term.Anyway, Iâm still holding my buying positions from $49k, $50k, and $53k. Those entry levels are quite strong, so if youâre still in from the bottom, youâve likely locked in some profits at the top. It's important to manage your positions wisely and keep an eye on the market for any potential corrections or opportunities to secure further gains.
BitcoinBuyingStructure
